Chicago Debt Settlement

Don't Let Debt Get You Down

Owing large amounts of money can make life difficult, to say the least.
Not only do you have to cope with the financial hardship of devoting large
portions of your paycheck to meeting your loan payments, but you may also
have to put up with incessant phone calls and letters from your creditors
when you are late or miss a payment. To make matters worse, when you do
miss a due date you will usually end up being hit with harsh late penalties
and finance charges, which only add an additional burden to your already
strained finances. As long as you continue to pay only the minimum monthly
amount, a large share of your payment will be going to interest rather
than the principal. It may seem like there is no way out. Fortunately,
you may have an option for putting an end to your problems with debt,
so that you can get your personal finances back under control and begin
enjoying your life more.

Understanding Debt Settlement in Cook County

Whiteman Borden, LLC can represent you in debt collection litigation and
help you negotiate a settlement. You will no longer have to take the calls
from the credit card company or other lenders, but will instead be able
to refer any requests for contact to our office. We will be on your side,
advocating on your behalf and working to negotiate a favorable settlement
that allows you to get out of debt quickly. The basic strategy involved
in debt settlement is to cease paying on the debt instead saving your
money to make a single lump sum payment. While you work on putting together
your payoff fund, we engage in negotiations with the creditor to persuade
them to accept a payoff for less than you currently owe. Discover the
do's and don'ts of debt settlement before you begin the legal process and contact our Chicago debt settlement
attorney right away to receive the assistance you need.

Retain a Chicago Debt Settlement Lawyer to Negotiate for You

After months or years of struggling to faithfully pay on your debts, you
may find it shocking to learn that the lender might be willing to let
you off the hook for a reduced amount. Make no mistake: most lenders will
not agree to a proposed debt settlement gladly. It usually takes aggressive
and skilled negotiation and an exhaustive understanding of applicable
laws. For example, we can investigate the case to find evidence that may
make it possible for you to dispute the debt. In cases where the debt
has been sold to a collection agency or a debt buyer, the debt collector
may not have enough documentation to prove that you actually owe them
anything at all, which opens the door to relieving you of the burden to
pay entirely.

If the original creditor still holds the debt, it is often possible to
compel them to accept a settlement by making it clear that they stand
to lose the entire amount if you are prepared to declare bankruptcy. Even
debt collectors who have sufficient documentation to prove their case
in court can frequently be persuaded to accept a settlement offer on the
grounds that it would allow them to receive some amount of payment without
the necessity of engaging in expensive pursuit and litigation to get you
to pay. This approach is not right for everyone, but you can
contact our firm now for a free
case evaluation to discuss your individual situation and to learn more about your options.

The information on this website is for general information purposes only.
Nothing on this site should be taken as legal advice for any individual
case or situation. This information is not intended to create, and receipt
or viewing does not constitute, an attorney-client relationship.